Rising prevalence of chronic pain disorders and increasing focus toward developing safer alternatives to opioid analgesics are driving the global non opioid pain treatment market growth. Factors such as growing geriatric population who are more prone to arthritis and other joint disorders, high incidence of cancer and associated pain, and favorable regulatory environment providing a push to research and development of novel therapies are expected to boost demand for non opioid medications. However, factors such as the availability of generic substitutes once patents of major brands expire can hamper the revenue growth of established players.
Market Dynamics:
Global non opioid pain treatment market growth is driven by factors such as growing awareness about risks of long term opioid usage, repetitive stress injuries and rising other work related musculoskeletal disorders, and increasing strategic collaborations between pain drug developers and medical device companies. However, high development cost of novel drug delivery systems and perceived lower efficacy as compared to opioids can hamper the market growth. Growing focus on development of advanced drug formulations, combination therapies, and neurostimulation devices present lucrative opportunities for major players in this industry.
Key Features of the Study:
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